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Prepare the cash flows from operating activities section

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Question - Sandhill Corporation had the following 2017 income statement.

Sales revenue $197,000

Cost of goods sold 127,000

Gross profit 70,000

Operating expenses (includes depreciation of $20,000) 46,000

Net income $24,000

The following accounts increased during 2017: Accounts Receivable $13,000, Inventory $11,000, Accounts Payable $15,000. Prepare the cash flows from operating activities section of Sandhill's 2017 statement of cash flows using the direct method.

Reference no: EM132546015

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